George Foreman Net Worth

Net Worth: $250 Million

Full Name: George Edward Foreman

Born: 01/10/1849

Birthplace: Marshall, Texas

Occupation: Boxer

Marital Status: Married

George Foreman net worth history

Although he first became well known because of his boxing skills those skills are not the primary source of George Foreman’s wealth. Instead, he has become wealthy primarily by selling the Salton manufacturing company the right to use his name on an electric grill they produced. The grill and several spin off versions remains very popular today. Foreman has earned money as an endorser and pitchman for other products like Meineke mufflers and KFC. He has written several books and is involved with an Indy car racing team.

About George Foreman

George Foreman took up boxing at the suggestion of a volunteer to a government program that was part of then President Lyndon Johnson’s war on poverty. His overall amateur record was 22 wins and 4 losses. At the 1968 Summer Olympic games in Mexico City Foreman knocked out the Russian boxer to win the gold medal in the heavyweight division.

Foreman turned professional the following year and began to record victory after victory. He was given the chance to fight for the title against Joe Frazier on January 22, 1973. Frazier was also undefeated at the time and was expected to win the contest. Instead, Foreman used his advantage in reach and powerful punching abilities to knock Frazier down several times before the fight was finally called in the second round and Foreman declared the winner.

George Foreman was involved in four different fights that were selected by Ring Magazine as the fight of the year. The victory over Frazier was the first selected. A 1976 defeat of Ron Lyle and a 1977 loss to Jimmy Young were also honored by the magazine.

The fourth fight occurred in 1974 and is one of the most famous and controversial fights of all time. This was the famous ‘Rumble in The Jungle’ between Foreman and Muhammad Ali. Ali adopted a strategy of allowing Foreman to tire himself out delivering blows to Ali’s body while the challenger leaned and rested against the unusually loose ropes. This fight is often referred to as the ‘rope a dope’ fight in reference to Ali’s strategy.

The fight against Young took place on Saint Patrick’s day and would be Foreman’s last fight for almost 10 years. Following the fight George was exhausted and, apparently very near death. At the time George reported feeling great despair and hopelessness. Although he was not religious he felt prompted to declare his belief in God and immediately felt relieved of the dark thoughts. In the decade between his fight with young and his comeback at the age of 38 George Foreman became an ordained minister. He remains an active pastor today.

In 1987 Foreman surprised many people when he announced his intention to once again enter the ring. His first bout was against Steve Zouski whom he defeated by technical knockout in four rounds. The fight took place just eight days shy of a full ten years following the loss to Young. Foreman surprised many fight experts and won the hearts of many middle aged men by compiling 23 straight wins before he lost a 12 round decision to Evander Holyfield in September of 1991.

Many boxing experts had expected Holyfield, who was unquestionably the most talented and well known fighter that Foreman had faced in his second career. to have a considerably easier time than he did. Although he was defeated Foreman undoubtedly earned the respect of many fight fans for the abilities and courage he demonstrated against the heavily favored and very well prepared Holyfield.

Foreman would go on to fight nine more times until his final bout in 1997 against Shannon Briggs in defense of the Lineal Heavywight Boxing title. Following that fight Foreman announced his retirement. Although he considered re entering the ring, at least for single bouts, on two different occasions, so far George has stayed retired.

Financial distress was a primary factor in Foreman’s decision to comeback in 1987. He used the fame he gathered as a boxer and a jovial demeanor to become the well known pitchman that he is today. One of the books he authored was on fatherhood. George is well qualified to write such a book since he is a father 12 times over. He probably won’t win any awards for creativity in naming his offspring, however. His five sons are all named George Edward Foreman.